Maria,who is single,had the following items for 2014:
Salary $80,000
Loss on sale of § 1244 small business stock acquired 3 years ago (60,000)
Stock acquired 2 years ago became worthless during the year (5,000)
Long-term capital gain 25,000
Nonbusiness bad debt (15,000)
Casualty loss on property held 6 months (6,000)
Casualty gain on property held 4 years 4,000
Determine Maria's adjusted gross income for 2014.

Question

Quizplus · Accepted Answer

The Answer of Maria,who is single,had the following items for 2014:
Salary $80,000
Loss on sale of § 1244 small business stock acquired 3 years ago (60,000)
Stock acquired 2 years ago became worthless during the year (5,000)
Long-term capital gain 25,000
Nonbusiness bad debt (15,000)
Casualty loss on property held 6 months (6,000)
Casualty gain on property held 4 years 4,000
Determine Maria's adjusted gross income for 2014.

Maria,who Is Single,had the Following Items for 2014